Last-minute deal won’t solve Greece’s woes
And so another act in the great Greek drama ends with a deal cobbled together after last-minute negotiations in Brussels.
There appears to be no clarity of objective in the latest eurogroup extend-and-pretend exercise to prevent the country exiting the eurozone. Keeping Greece on a lifeline of cheap credit in exchange for structural reforms the deeply indebted sovereign has no institutional capacity to enact makes little sense in the short run, and none in the longer run.
Greece’s new government wants to ‘own’ its reforms and implement them, but a deep suspicion now ...
